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CBCD: "Central Bank Digital Currency is a Power Grab" Dr. EJ Antoni, The Heritage Foundation

Updated: Jul 2, 2023

Saturday June 24, 2023 Republican Women's meeting featured Dr. EJ Antoni and Reggie Littlejohn. To view the entire speech link here: https://www.facebook.com/100064403933799/videos/831038208155941


Dr. EJ Antoni, The Heritage Foundation's Data Analyst and a nationally renowned economist, sheds light on the nature of digital currency and its implications as a tool for population control. In order to grasp the concept, it is important to differentiate between digital currency and digital transactions, such as those facilitated by Venmo or Zelle. Dr. Antoni explains that "money" serves as a medium of exchange, enabling the trade of goods both immediately and in the future. He delves into the concept of "legal tender," emphasizing that the American dollar is the designated medium for transactions, rather than silver or gold, as the latter would render our currency valueless. (Listen at 5:30 minutes.)


A digital dollar signifies the elimination of physical cash, with every transaction involving your "dollars" being traceable, tracked, and subject to taxation. This centralized approach by the government curtails privacy in financial transactions. (Listen at 9:00 minutes.)

The issue of surveillance looms large, as your cash flow becomes 100% monitored. Consider a scenario where the government unilaterally decides what is best for its citizens, imposing restrictions on gasoline purchases for vehicles and rationing cigarettes and alcohol. Virtue signaling could swiftly come into play, influencing factors such as which political party you choose to support through donations. It is evident how swiftly our First Amendment rights would be eroded.


So, what can we do? It is imperative that we reach out to our elected officials, regardless of party affiliation, to advocate for a ban on Central Bank Digital Currency. Several states are currently formulating legislation to prevent the federal government from implementing digital currency. States like Texas, Tennessee, Florida, and Oklahoma already have existing legislation in place or under review. (Listen at 19:00.)


Follow Dr. EJ Antoni's blogs at www.heritage.org and Twitter https://twitter.com/RealEJAntoni


RWBC Reporter Karen Tully interviews Dr. Antoni and provides a recap of the meeting. Listen here: https://www.youtube.com/watch?v=3Lhn5IHx9ZQ



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